Noun; Broke-ass-ti-na'shun: short for broke ass nation. Brokeasstination shares similarities with the word procrastination in definition and pronunciation; however, it defines the condition whereby a government procrastinates on enacting sound fiscal policy and becomes broke as a result.

The United States Congress is procrastinating on the implementation of a budget because its essentially broke. I guess if they had not over regulated the free market and subsidized health care, education and agriculture we wouldn't be experiencing the effects of brokeasstination.